E average time between two consecutive arrivals in a single-channel queuing system(M/M/1) is 20 minutes and it takes an average of 10 minutes to provide the service. Investmentin a superior technology can reduce the time required to service a customer from 10 minutes to5 minutes. If the cost of lost sales because of waiting in the line is approximated as $100 perweek for each minute of wait and the cost of using the new technology is $200 per week(assume fixed cost of the technology is zero), then should the company use the new technology? If the company use the new technology, then what is the weekly payoff of usingthe new technology

while setting up his new office, an attorney ordered thick, frieze carpets for the floor. however, the building inspector had him remove the expensive carpeting. the building inspector stated that according to federal regulations, the office must be wheelchair accessible as it is a public area. he further explained that since wheelchairs do not maneuver well in thick, frieze carpeting, the carpets had to be removed and be replaced with smooth-textured carpets that do not restrict wheelchair maneuverability. this scenario illustrates how a company is influenced by the component of its specific environment.

Afreelance​ singer-songwriter is planning the restoration of a recently purchased civil​ war-era farmhouse. while he professes an enjoyment​ of, and talent in the construction​ trades, the theory of comparative advantage implies that a. the value of what he imports​ (in this​ case, professional contractor​ services) must equal the value of what he exports​ (songs). b. he should concentrate on the restoration work since his​ out-of-pocket costs will be much lower than if he hires professionals. c. ​self-sufficiency is​ advantageous, hence he should split his time between music and construction. d. the income lost while away from music will likely exceed the savings realized by doing the work​ himself, thus, he should hire professionals to do the restoration work. e. he ought to do as much of the work himself as possible since imports​ (in this​ case, professional contractor​ services) should always be restricted to those things that cannot be done internall

Because the demand for wheat tends to be inelastic. true or false